Anti-Money Laundering

KoFIU Directs Crypto Exchanges to Improve AML Staffing

05/03/2022

The proportion of staff dedicated to AML compliance at Korea’s crypto exchanges stands at around 8 percent.

Anti-Bribery & Corruption

1MDB: Ex-BNM Governor’s Husband Embroiled in Police Probe

04/03/2022

The police, rather than the anti-corruption commission, are investigating Datuk Tawfiq Ayman and his alleged involvement in 1MDB.

Climate Risk

APRA to Survey Regulated Entities on Climate Risk Management

03/03/2022

The survey will assess the alignment between current approaches used by regulated entities and the expectations set out in CPG 229 and the TCFD recommendations.

Cryptocurrency

Cambridge CCAF Launches Crypto Research Project

02/03/2022

The research project will cover the environmental implications and broader ESG considerations of digital assets and their associated services, among other themes.

Trading & Investment

Eight SPACs Have Filed IPO Applications in Hong Kong

02/03/2022

The first applicant, backed by CMB International, has been approved. The latest applicant is a SPAC majority owned by ex-HKMA chief Norman Chan.

Climate Risk

ESMA Consults on Climate Risk Stress Testing Approach for CCPs

02/03/2022

ESMA has identified four elements of climate risk that may adversely impact CCPs – physical risk, rapid transition risk, business risk, and collateral replacement risk.

Anti-Money Laundering

US Regulators Fine National Bank of Pakistan $55m for AML Violations

01/03/2022

National Bank of Pakistan is required to pay penalties, correct deficiencies in its AML compliance, and submit quarterly progress reports on remedial actions taken.

Cloud & Infrastructure

RBI Directs Selected NBFCs to Centralise Core Systems

28/02/2022

Middle and upper layer NBFCs with ten or more places of operation will be required to implement a core financial services solution by 30 September 2025.

Payments & Settlements

PBOC Allows Merchants to Continue Using Personal QR Codes

27/02/2022

Rules issued last October were about to take effect that would have prohibited merchants from using personal QR codes to receive payments from 1 March.